The problem with finding the best cryptocurrency exchange is whichever one you select and then research you’ll always find someone who reviews it badly. So there comes a point where you have to make the plunge and put your trust somewhere – otherwise, you’ll never buy any crypto at all!
We originally found Kraken to be a good exchange, they had issues throughout November and early December 2017 but implemented upgrades which, despite coming late, vastly improved the site and put it’s operation back to normal. Now at the time of writing (early Jan 2018) they have taken a step back and the site is beginning to show the same signs as before, difficulty with logging in and deposits and other transactions not working. Also, the response time from support is ridiculously long. Exchanges need to manage the vast growth and ensure they are looking after their existing customers.
Having said that when we applied the verification process was very quick, but recently, as with all exchanges due to the huge demand for new accounts, this process may take a little longer than normal. To become verified to Tier 3, which is required to deposit FIAT, was very easy and quick.
For beginners, the site can be a little daunting so you may be better with someone like coinmama to get you started buying your first bitcoin. Once you are accustomed and more experienced you will want to use an exchange like Kraken to buy and sell your cryptocurrency. The other great plus is it will accept FIAT payments once some verification has been completed.
- FIAT options
- Fast verification process
- Low Fees
- 2FA authentication
- Daunting for beginners
- A little confusing to trade
- Has had issues (hopefully now resolved)
- Slow support